Philip Falcone’s LightSquared on Tuesday unveiled a $3.05 billion restructuring plan that would give 74% of the wireless venture to Cerberus Capital Management LP, Fortress Investment Group LLC and J.P. Morgan Chase & Co., and leave Mr. Falcone with just 12.5% of the reorganized company’s equity…A prior plan, rejected by Judge Chapman for being unfair to Mr. Ergen, was led by Fortress and would have allowed Mr. Falcone and Harbinger to keep at least 35% of the company’s equity. The plan called for Mr. Falcone and other representatives of his Harbinger Capital Partners hedge fund firm to resign from the LightSquared board. Last month, Mr. Falcone and the other Harbinger representatives did resign from the company’s board…Without support from the Federal Communications Commission, LightSquared isn’t able to fully use spectrum—limited pockets of airwaves that mobile-phone and Internet companies use—-that it owns.

1293935 Responseshttp%3A%2F%2Fdealbreaker.com%2F2014%2F07%2Fphil-falcone-may-be-spending-a-lot-more-time-with-the-minnesota-wild%2FPhil+Falcone+May+Be+Spending+A+Lot+More+Time+With+The+Minnesota+Wild2014-07-01+19%3A50%3A00Bess+Levinhttp%3A%2F%2Fdealbreaker.com%2F%3Fp%3D129393 to “Phil Falcone May Be Spending A Lot More Time With The Minnesota Wild”

SAC

Mary Jo White was the top federal prosecutor in New York City during Bill Bratton’s first run as the Big Apple’s top cop, and she learned a few lessons from his “broken windows” theory: Clean a place up a little, and throw the fucking book at the street urchins who are messing things up with […]